Former NAMCOR Managing Director Immanuel Mulunga is seeking release based on a warning in his ongoing criminal case.

Mulunga's lawyer, Francois Bangamwabo, told the court that the charges against his client cannot stand in law and that no evidence has been presented to prove that Mulunga owns a luxury vehicle allegedly purchased for him by fugitive businessman Victor Malima.

ACC chief investigator Oberty Inambao, a state witness, previously testified that Malima purchased the vehicle, registered under Mulunga's cousin's name. 

Bangamwabo questioned why Inambao did not provide documentation to support the claim, adding that the car was bought on hire purchase and remains the property of the bank until paid off. 

He said Mulunga's only involvement was driving the vehicle.

Bangamwabo also challenged Inambao's testimony during cross-examination, stating that no law in Namibia allows for the arrest or criminal prosecution of a person for failing to comply with internal company policies. 

He further argued that when Enercon received N$53 million from NAMCOR, the funds became Enercon's property to use at its discretion. 

Inambao maintained that the money was the proceeds of criminal activity and did not belong to Enercon.

Magistrate Linus Samunzala is expected to hear closing arguments in Mulunga's bail application early next week.

Meanwhile, the State has abandoned its objection to bail for one of the accused in the same matter, Enercon CEO Connie Van Wyk. 

Van Wyk was granted bail of N$50,000 with conditions.

He was arrested almost two weeks ago, along with Austin Elindi.

Lydia Elindi, another accused, was also granted bail of N$50,000 after the State withdrew its objection to such.

The case involves allegations of the embezzlement of millions of dollars from NAMCOR, in which Enercon, its directors, and other accused are implicated.